Share purchase sale Trading

This query is : Resolved

Amandeep Singh (Querist)
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23 February 2022
sir

we purchase and sale some shares please suggest entry in books of account is correct or not and how to withdrawal STCG from sale purchase

Purchase entry.

Investment in shares Rs.14325 Dr. ( Investment)
Brokage & other exp. 20 Dr.( Investment)
SBICAP Rs.14345 Cr.( sundry creditors)

Sale entry.

SBICAP Rs.14682 Dr.(Sundry creditors)
Brokage & other exp 18 Dr.(Investment)
Investment in shares 14700 Cr.(Investment)

please suggest how to calculate STCG

Sir
purchase shares 14345/- and Sale 14682/_ Profit Rs.337/- STCG Rs.51 it's correct way

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 February 2022 Entry proposed above is right.
Pass the journal entry for capital gains.
Investment in shares Dr 337
To short term capital gains cr 337.